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House Insurance & Home Business

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  • 01-11-2003 4:42pm
    #1
    Clark
    Closed Accounts Posts: 1 ✭


    When obtaining house (buildings) insurance the insurance companies usually ask if there's a business being run at your home i.e. your principal residence which you require buildings cover for.

    I assume they mean a business similar to a shop where customers are coming to the house etc.

    About two months ago I started a small business (which I run from my house), but there's never any customers there as I sell the goods I make and eal in at fairs. So, there's never any customers at my house, and there are no signs outside the house to indicate that a business is being run.

    I was wondering if my house would still be covered if something happened to damage my house? When they ask is a business being run from the house, do they mean just a business which involves customers being at the house?


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    #2
    De Rebel
    Registered Users Posts: 1,109 ✭✭✭De Rebel


    Originally posted by Clark
    When obtaining house (buildings) insurance the insurance companies usually ask if there's a business being run at your home i.e. your principal residence which you require buildings cover for.

    I assume they mean a business similar to a shop where customers are coming to the house etc.

    You cannot make that assumption. That’s is not what they are asking. They mean what they say, is the house being used for business purposes and the answer in your case is Yes
    I was wondering if my house would still be covered if something happened to damage my house?

    That depends. There will certainly be wording in the policy document which will invalidate the cover if you fail to disclose "Material Facts". Depending on the nature of the claim the insurance company could well take the view that the non disclosure was material.

    My advice would be to ensure that you advise the insurance company, in writing. This could be a simple as a comment in a box on the proposal form, which states the nature of your business and the extent to which it is carried out at home. Trying to deceive them will leave you with something to worry about and may cost you in the long term. Being honest won't necessarily cost you money.

    On a separate note, you should also consider whether you need any business insurance. In particular Public Liability, as well as material damage, employers liability and professional indemnity are possible considerations for self employed home workers.


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